Meta shares rose in extended trading after the firm announced a $40 billion stock repurchase and posted fourth-quarter revenue that exceeded expectations.
During the fourth quarter of 2022, the business also recorded restructuring expenses of $3.76 billion
Meta forecasts revenue of $26 billion to $28.5 billion in the first quarter. According to Refinitv, analysts expected sales of $27.1 billion.
If Meta achieves the upper end of its guidance range, it may be able to break its year-over-year slide streak.
Meta reported a 20% year-over-year increase in headcount to 86,482 as of December 31, 2022.